Seiko aims for young crowd with Ananda's endorsement
Seiko (Thailand) Co, the Thai distributor of Seiko watches, is making a strategic move to draw more Generation Y customers with the use of a local brand ambassador for the first time.
Managing director Harumitsu Akashi said the company will expand its customer base to reach Gen Y people because their purchasing power is quite strong.
Gen Y spans people aged 16 to 35 years old, he said. While they are not the highest earners, they are willing to spend more than any other customer group if inspired by an exciting thing.
To penetrate the Gen Y market, the company has hired
Meanwhile, the international market will continue to see one of the world's great tennis players, Novak Djokovic, in his key role as a spokesman for Seiko watches.
Seiko Thailand is using a local presenter for the first time because the country is the largest market in Asean for Japan's Seiko and ranks third in Asia after China and Japan.
"Thailand has been very special and important for Seiko for many years in term of business value and brand image," Mr Akashi said. "With over half a century in Thailand, our loyal customers are getting old, therefore we want Seiko to appeal more to younger customers here."
The Seiko Prospex Zimbe Limited Edition will launch exclusively in Thailand to cash in on the "bright watch" market.
The Prospex Zimbe was crafted in Thailand and will be introduced at the Siam Paragon Watch Expo, which runs July 27-Aug 15. The watch will be marketed here with a limited circulation of 1,299 pieces.
Moreover, the company will more than double its online marketing budget to reach more Gen Y customers. It also sells watches via the online shopping platforms of Central and Robinson.
Seiko plans to bring more interesting watches to Thailand soon.
"We hope our sales from Gen Y customers will contribute about 30% of the total, in line with the 30% ratio of Gen Y people to the total population in Thailand," Mr Akashi said.
The company expects to increase watch sales by 10-15% this year, beating the industry rate of less than 10%.
Mr Akashi said local and external factors, such as economic conditions, might affect sales performance from time to time.
"My confidence in the Thai market remains high, as there is still more room to grow," he said. "We can expand further, if we are keen on product development, marketing strategy and new market penetration."
The new brand ambassador is expected to boost sales by 10-15% in the short term.